A person named as a transfer on death (TOD) beneficiary for an account will receive the assets held in it when the account owner dies.
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
More Americans are now getting married over the age of 65 than ever before. Even though this may be a second or third marriage for many, caregivers should nevertheless be aware of certain aspects that shouldn’t be ignored amidst all the wedding plans and celebrations.
When you’re gone, your spouse’s income will take a major hit–one that can be worsened significantly, if you make the wrong decision about when to claim.
Social Security benefits serve an essential role in most Americans’ retirement plans. Yet many people — even soon-to-be retirees — know little about how the program works or how to get the most from the benefits they’ve earned.
If you get your health insurance through the public marketplace and are nearing age 65, don’t forget about Medicare.
My daughter is on Medicaid. If I give her my home in my will, what will happen to her benefits?
For traditional 401(k) plans and IRAs, you generally get a tax break when you make contributions and then pay taxes on the withdrawals in retirement. In contrast, Roth versions of those accounts come with no upfront tax break, but qualified withdrawals are excluded from federal income taxes.
Scams target people of all ages, but the most vulnerable tend to be older adults—and the money they lose can have a big impact on their retirement.
No one can predict the future—and navigating that reality is precisely what makes estate planning so complicated.
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